Larson Financial Group LLC Buys 2,127 Shares of Rio Tinto Group (NYSE:RIO)

Larson Financial Group LLC increased its stake in Rio Tinto Group (NYSE:RIO) by 1,899.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,239 shares of the mining company’s stock after purchasing an additional 2,127 shares during the period. Larson Financial Group LLC’s holdings in Rio Tinto Group were worth $143,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Rio Tinto Group in the first quarter valued at about $26,000. AdvisorNet Financial Inc grew its position in Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after acquiring an additional 330 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in Rio Tinto Group in the first quarter valued at about $29,000. Accordant Advisory Group Inc bought a new position in Rio Tinto Group in the first quarter valued at about $31,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Rio Tinto Group during the first quarter valued at about $33,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.8 %

Shares of NYSE RIO traded up $0.51 during midday trading on Wednesday, hitting $67.49. 1,995,043 shares of the stock traded hands, compared to its average volume of 2,691,478. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The business has a 50 day moving average price of $68.71 and a two-hundred day moving average price of $67.81. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RIO shares. Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Finally, Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy”.

Rio Tinto Group Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.